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Stock Market & Financial Investment News

News Breaks
November 15, 2012
06:28 EDTSVASinovac Biotech reports Q3 EPS (6c), one estimate (3c)
Reports Q3 revenue $14.29M, one estimate $12.35M.
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April 24, 2014
06:54 EDTSVASinovac Biotech receives notification of China Government grant for EV71 project
Sinovac Biotech announced that it has received notification that a RMB 60M free government grant has been approved by China's Ministry of Finance, National Development and Reform Commission, Ministry of Industry and Information Technology, and National Health and Family Planning Commission for construction of the Company's dedicated production facility for its Enterovirus 71, or EV71, vaccine against hand foot and mouth disease, or HFMD. Given the severity of HFMD epidemic levels in China and the government's focus on developing the biotechnology industry, Sinovac's EV71 vaccine commercial production project was approved as one of the projects supported by the Dedicated Funds for Strategic New Emerging Industry Development. The funding criteria as outlined in this grant are to complete the construction of its production facility in compliance with China's new GMP guidelines with an annual capacity of 20M doses of EV71 vaccine and to commercialize the vaccine in China. The grant will be funded in several tranches, of which RMB 20M will be provided within the year, and the remaining will be provided after the criteria are met.

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